Live Markets: Bitcoin crashes to $62,000 as billions of longs get liquidated
CoinDesk • • business
Key Points:
- Bitcoin fell below $64,000, down nearly 5% on the day, while several narrative-driven tokens saw significant gains, with Worldcoin's WLD rising 33% in 24 hours and nearly 60% over the week.
- Arthur Hayes' family office, Maelstrom, values Worldcoin as a potential liquid proxy for AI-related investments due to its association with OpenAI CEO Sam Altman and growing interest in AI companies like SpaceX and Anthropic.
- Other notable token performers included Ethena's ENA (+17%), Hyperliquid's HYPE (+4%, +25% weekly), and Ondo Finance's ONDO (+4.5%), reflecting continued investor interest in tokenized real-world assets.
- Despite the token gains, panic is rising in the crypto market as bitcoin declines toward $62,000, leading to increased demand for put options that protect against price drops below $50,000.
- The high volume of put options at strikes below current bitcoin prices, including $50,000, $55,000, and $65,000, indicates that traders are hedging against or betting on a significant bitcoin price correction in the near term.